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A Rs 126 crore hospital order, a global sports brand deal and a key drug approval could put these three stocks on investors' radar on Thursday.
✨ Key Takeaways
Indian equity markets ended lower on Wednesday, August 12, as rising crude oil prices and caution ahead of key domestic and US inflation data weighed on investor sentiment.
The Nifty 50 closed at 24,435.95, down 35.75 points, or 0.15 per cent. The index recovered nearly 150 points from the day's low, limiting the losses. The Sensex declined for the second consecutive session, falling 187.90 points, or 0.24 per cent, to 77,966.35.
Brent crude oil prices remained above USD 89 per barrel, extending their gains for a sixth consecutive session. Investors continued to monitor developments around a potential US-Iran agreement and uncertainty surrounding the Strait of Hormuz.
Also Read - Tata Group Stocks Fall Up to 5% as Chandrasekaran Exit Raises Succession Concerns
Against this backdrop, here are the stocks that could remain in focus during Thursday's trading session.
Vascon Engineers received a Letter of Intent worth Rs 126.39 crore, excluding GST, from the Executive Engineer, Public Works Department, Arvi Division, Wardha Nagpur. The order is for the development of a 300-bed general hospital at Wardha, Nagpur, Maharashtra. The project has been awarded on an item-rate basis.
According to the company, the project is scheduled to be completed within 24 months from the date of receipt of the order. The fresh order adds to Vascon Engineers Ltd's project pipeline and could support its Construction business going ahead.
Ester Industries Ltd is also expected to remain in focus after its 50:50 joint venture, Ester Loop Infinite Technologies Private Ltd (ELITe), secured a multi-year Letter of Intent with a leading global sports and athletic brand. The company's joint venture partner, Loop Industries Inc., has signed the non-binding LOI for the supply of Loop PET fibre-grade resin. Under the proposed commercial framework, the global sports brand intends to procure up to 15,000 metric tonnes of the resin annually.
The resin is expected to be supplied from the upcoming manufacturing facility in India, which will be operated by ELITe, the joint venture between Ester Industries Ltd and Loop Industries. The development gives Ester Industries Ltd an opportunity to expand its presence in recycled PET resin and tap demand from global sports and athletic brands.
Bajaj Healthcare received approval from the Drugs Controller General of India (DCGI) to manufacture and market Cenobamate in India. The company said it has received approval to manufacture and market Cenobamate API and tablets in six strengths: 12.5 mg, 25 mg, 50 mg, 100 mg, 150 mg and 200 mg.
Bajaj Healthcare Ltd has described the development as a first for the company in India. The approval allows it to enter the domestic market for Cenobamate across the approved strengths. The development could strengthen the company's product portfolio and add another product to its pharmaceutical business.
Disclaimer: The article is for informational purposes only and not investment advice.